Satyam’s independent director resigns

Bangalore, Dec 26 (IANS) Mangalam Srinivasan, independent director of Satyam Computer Services, has resigned from the board, the company said Friday.In a notification to the Bombay Stock Exchange (BSE), the Hyderabad-based software major said the non-executive director had tendered her resignation Wednesday.

The director’s resignation comes in the wake of the management’s aborted bid to acquire Maytas Properties and Maytas Infrastructure for $1.6 billion (Rs.79.2 billion) Dec 16 in a bid to bail out the two realty firms run by the two sons of Sataym’s founder and chief executive B. Ramalinga Raju.